Monday, June 15, 2009

I've been pleasantly tied up the past several days with the events surrounding my 60th birthday party. This otherwise dubious milestone was made quite enjoyable by my excellent wife's tireless preparations and the ministrations of my devoted family. It started last Thursday with the surprise arrival of my son from Hawaii and my daughter from New York. For the next three days we had all four children with us for the first time in over two years. With sons-in-law in tow, we all went out for a great seafood dinner Friday night.

Saturday was the party, which included over 30 close friends and family members, and a delicious dinner prepared by my cousin. This party launched his novel idea for a catering business (Food Dudes: they buy the food, cook it at your house, and charge you the cost of the food plus a flat rate per person). I'm lucky that my best friend, whom I have known since we were 7, was there to help me celebrate, and his cousin, a professional photographer, gracefully offered to record the event. Yesterday we enjoyed our three grandchildren during the day and a nice asado with Argentine wine at night.

My fortunes are great and many. My wife is the heart and soul of the family and did the lion's share of raising our children in excellent fashion. We are all healthy—though I would be deaf if not for the wonders of technology to be found in the cochlear implant I received 5 years ago—and as far as I know we all enjoy each other's company. We have a rich and varied circle of friends in Argentina and the U.S. Over 40 members of my extended family (siblings, spouses, mother, father and nieces and nephews, aunts and uncles and cousins) live within easy driving distance in So. California. We're fortunate to have our own little beach house (on Calafia Beach), something we had wanted for many years.

Our family is bucking the trend in the economy, but we have suffered blows just like everyone. My youngest daughter recently landed a full-time job with Moody's in New York, after six months of looking and in spite of the awful financial recession there. One son-in-law recently accepted a position with money manager Payden & Rygel in Los Angeles, several months after losing his postion at an equity firm that couldn't withstand the market collapse. My investment portfolio is still way down from its highs, but I've done better than the market. Our recently-minted lawyer son-in-law accepted his first case, but probably won't make any money on it even if he wins.

I couldn't and shouldn't ask for anything more. But I do hope that the country rejects Obama's big government policies, and that the markets and the economy get back on their feet.

Scott,Happy birthday and many happy returns. Like Jeff, I have learned a lot from your posts, and it's been a nice antidote to all the "depression porn" that's been out there. My b'day wish for you is that, although you seem quite libertarian, you come to see that at least some of the Obama administration's initiatives are not only worthwhile, but necessary. As a small business owner, I say that health care reform can't possibly happen soon enough - the unregulated "free market" had it's chance.

txsaddletramp: Thanks for your kind words, but I can't agree with you about the free market blew its chance to get healthcare right. It never had the chance to begin with. The market has been horribly manipulated by the tax code, which allows only businesses to deduct the cost of healthcare. That leads straight to the "third party pays" problem that was long ago identified by Milton Friedman. How can market forces work if the person who buys a product or service is not he one who pays for it?

A very Happy Birthday to you on your milestone number of years. I have one and half years on you and so remember my 60th vividly. My wife and I spent 5 glorius days on St. Lucia Island. My two daughters did not join us there but sent as a loving momento a bound publication of my life in pictures and comment called "The Book of Bob". It was a tearfull but joyous thing to read.

Wealth is necessary, IMO, but family and health superscede even that.

May the rest of your years be as bountiful and fulfilling as those you have already enjoyed.

Happy Birthday Scott. I can't tell ya how much I've leaned on your post during all of this nonsense. I have also learned a lot. Some of it sails over my head but I love trying to keep up with you and your readers. I wish I had you as an instructor during my college days. I attended a state school and needless to say all of the professors were Keynesian snobs. Anyway, again congrats on your 60th, glad to hear your family is doing wonderfully, and thanks again for the blogging.

Happy birthday, Scott! And while we've never met, I've found both the insight and optimism you provide in your blog to have been a great help over the past six months as I manage my business (which caters to financial services firms, no less!).

Happy belated birthday! Thank you so much for your blog. I read it every morning in Jakarta where I live. I have learnt so much, thanks to your great insights! May the Good Lord keep you and your family in good health.